Td Canadian Bond Fund Market Value
| TDB909 Fund | 10.42 0.06 0.57% |
| Symbol | TDB909 |
TD Canadian 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to TD Canadian's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of TD Canadian.
| 09/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in TD Canadian on September 25, 2024 and sell it all today you would earn a total of 0.00 from holding TD Canadian Bond or generate 0.0% return on investment in TD Canadian over 60 days.
TD Canadian Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure TD Canadian's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess TD Canadian Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.53) | |||
| Maximum Drawdown | 1.33 | |||
| Value At Risk | (0.47) | |||
| Potential Upside | 0.4735 |
TD Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TD Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TD Canadian's standard deviation. In reality, there are many statistical measures that can use TD Canadian historical prices to predict the future TD Canadian's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | 2.94 |
TD Canadian Bond Backtested Returns
TD Canadian Bond retains Efficiency (Sharpe Ratio) of -0.0752, which indicates the fund had a -0.0752% return per unit of price deviation over the last 3 months. TD Canadian exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate TD Canadian's Risk Adjusted Performance of (0.08), mean deviation of 0.2222, and Standard Deviation of 0.292 to confirm the risk estimate we provide. The entity owns a Beta (Systematic Risk) of -0.0116, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning TD Canadian are expected to decrease at a much lower rate. During the bear market, TD Canadian is likely to outperform the market.
Auto-correlation | -0.09 |
Very weak reverse predictability
TD Canadian Bond has very weak reverse predictability. Overlapping area represents the amount of predictability between TD Canadian time series from 25th of September 2024 to 25th of October 2024 and 25th of October 2024 to 24th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of TD Canadian Bond price movement. The serial correlation of -0.09 indicates that less than 9.0% of current TD Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
TD Canadian Bond lagged returns against current returns
Autocorrelation, which is TD Canadian fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting TD Canadian's fund expected returns. We can calculate the autocorrelation of TD Canadian returns to help us make a trade decision. For example, suppose you find that TD Canadian has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
TD Canadian regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If TD Canadian fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TD Canadian fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TD Canadian fund over time.
Current vs Lagged Prices |
| Timeline |
TD Canadian Lagged Returns
When evaluating TD Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TD Canadian fund have on its future price. TD Canadian autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, TD Canadian autocorrelation shows the relationship between TD Canadian fund current value and its past values and can show if there is a momentum factor associated with investing in TD Canadian Bond.
Regressed Prices |
| Timeline |
Pair Trading with TD Canadian
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if TD Canadian position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in TD Canadian will appreciate offsetting losses from the drop in the long position's value.Moving against TDB909 Fund
| 0.48 | 0P0000OXA6 | PHN Multi Style | PairCorr |
| 0.41 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.41 | 0P00012UCU | RBC Global Equity | PairCorr |
| 0.36 | 0P0000706A | RBC Select Balanced | PairCorr |
The ability to find closely correlated positions to TD Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Canadian when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back TD Canadian - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling TD Canadian Bond to buy it.
The correlation of TD Canadian is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Canadian Bond moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for TD Canadian can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |